Canada’s annual inflation rate in June drops to 2 per cent on lower gas prices

Energy prices fell 4.1 per cent year-over-year in June as Canadians paid less for gasoline and other fuels. Oil prices dipped amid rising U.S. fuel inventories and the elimination of carbon pricing in Alberta.The central bank last week projected the overall inflation rate would dip to around 1.6 per cent in the third quarter because of the dynamics of gasoline prices and other temporary factors before recovering to around 2.0 per cent in the fourth quarter.

Although two of the Bank of Canada’s measures of core inflation remained above 2 per cent, CPI common – which the central bank says is the best gauge of the economy’s underperformance – was unchanged at 1.8 per cent per cent.Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening.

globebusiness LOWER GAS PRICES HUH WHERE

globebusiness What really? Is this fake news? If not then why is gas still so expensive in Canada eh. Something fishy here. Fudged numbers?

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